Fledge Capital backs top online watch retailer Luxury Time ventureburn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ventureburn.com Daily Mail and Mail on Sunday newspapers.
covid restrictions late last year, that indeed was the hope among a lot of businesses that china s economy would bounce back very quickly. but the fact is a lost chinese families and chinese consumers they have become very much financially strained. because over the past three years sunday very stringent covid restrictions, a lot of them have lost jobs. and some of them have suffered pay cuts. you know, private companies are not doing well. they re not hiring as much. foreign businesses, you know, some of them have reduced investment in china. so a lot of people in china have seen their income levels, you know, decline. but at the same time, they have taken the kind of debt to buy houses, buy cars. so their balance sheet, you know, it s just not that great. so, they have, you know, really